Bitcoin Price has tumbled Today, the price of gold fell to its lowest point in six months. It traded from $92,000 up to $95,000, just six weeks away from a new record. highs Early October, the near 126,000 was nearly $126,000.
As traders struggle with new uncertainty about whether the Federal Reserve will cut The Federal Reserve Board will meet in December to discuss interest rates.
Bitcoin Magazine’s data shows that the price of bitcoin was at $91,158 when this publication went to press.
Fed chair Jerome Powell noted that policymakers are cautious due to the lack of economic data from the 43-day shutdown last month. “a further reduction in the policy rate…is not a foregone conclusion.”
Boston Fed President Susan Collins echoed It is possible that the expression may suggest a sentiment “appropriate to keep policy rates at the current level for some time” Balance inflation risks and employment risk.
Analysts claim that a sudden shift in sentiment on the markets is behind this crypto-downturn. Henry Allen of Deutsche Bank warned What investors should avoid “underestimate the impact” Markets have often sold off in response to the Fed’s increasingly aggressive stance.
Even big institutions are pulling out: last week crypto ETFs lost $1.8billion, with $870m pulled on just Thursday.
The Bitcoin price has also lost steam, as the excitement surrounding Donald Trump’s crypto agenda fades. The massive November 2024 rally — driven by hopes for friendly regulation and even a proposed Bitcoin treasury — reversed after Trump floated 100% tariffs on Chinese imports.
This shock has triggered one or more of these largest liquidation events Crypto history has seen the loss of half a trillion dollar in hours, leaving many major assets to struggle for momentum.
Bitcoin price isn’t being helped by technical indicators. Bitcoin price flashed The aforementioned “death cross” On Sunday, there was a chart pattern that is bearish. This occurs when short-term trend averages fall below the long-term trend. Analysts like Benjamin Cowen are still predicting a bearish trend. note Past death crosses have often been seen near the bottom of markets, signaling that a recovery may be not far away.
Altcoins have been falling along with the Bitcoin rate. Ethereum fell below $3,000 and Solana both dropped by about a third in the last month.
Next, the Federal Open Market Committee will make its December rate announcement. This could be the key factor that determines whether Bitcoin prices continue to fall or see a possible increase. “Santa rally” The next weeks will be very busy.
Bitcoin prices and crypto-stocks continue their decline
Stocks linked to cryptocurrency are suffering significant losses due to market volatility and falling prices. At the time of writing, Coinbase Global Inc (NASDAQ: COIN) is trading at $260.26 USD, down $23.74 (‑8.36%) today, reflecting reduced trading activity and lower fee revenue as the Bitcoin price struggles.
Strategy Inc Class A (NASDAQ: MSTR) sits at $191.59 USD, down $8.16 (‑4.09%), showing strong correlation with Bitcoin’s recent pullback. Miners are also under pressure, with MARA Holdings Inc (NASDAQ: MARA) down $0.85 (‑7.10%) at $11.14 USD and Riot Platforms Inc (NASDAQ: RIOT) down $0.49 (‑3.55%) at $13.46 USD.
Recently, we have seen a strategy for achieving this. made The company made its biggest Bitcoin purchase in the past few months, purchasing 8,178 BTCs for $835.6M. Michael Saylor, in a blog post on X and an SEC report, stated that the average bitcoin price was $102,171. The company now has 649 870 BTC with an aggregate cost of approximately $48.37 Billion and an average of $74,433 for each coin. Strategy has reported a Bitcoin yield of 27.8% so far this year.
The Bitcoin price at the time the announcement was made was around $94,000. Strategy ($MSTR), however, was about 2% lower in the premarket, trading for $195.86. It was mostly funded by the issue of preferred stocks.
In the first week of this month, the STRE series was issued by the company in euro.”Steam”( ), aimed to increase its high yield offerings for European investors. This decision highlights Strategy’s ongoing commitment to growing its Bitcoin exposure and leveraging financial tools to support large scale purchases.
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Source: bitcoinmagazine.com
